The price of the share offered by IRCTC through OFS has been slashed upto 5% making the share drop upto ₹693.40 a piece on the National Stock Exchange (NSE) while on the Bombay Stock Exchange (BSE) the price is weighing upto ₹ 693.55
The Central government on Wednesday made up the decision to sell up to 5% stake in Indian Railway Catering and Tourism Corporation (IRCTC) on 15th and 16th December through offer for sale (OFS).
The government kept ₹680 a share as the floor price. This price is 7.8% lower than the company’s closing price on Wednesday which was ₹734.
The government decided to sell upto 2,00,00,000 equity share of IRCTC, which is representing 2.5% stake of the total issued, with an option of selling another 2,00,00,000 equity shares with an aim of gathering upto ₹2720 crore.
The OFS will be open for non-retail investors on Thursday and for the retail investors it will be open on Friday said the government.
At 10:17am the share was at a price of ₹701 down by 4.6% as compared to the closing price of the previous day at ₹735 per share.
